At the end of January, London & Partners and the Department for International Trade organised the ‘London Tech Industry Roundtable' in Shenzhen in preparation for the 2018 London Tech Week. Our Founder and CEO John Zai joined a panel discussion together with Hu Xiao, Senior Trade and Investment Officer at the DIT and Geyand Huang, Head of Greater China at London & Partners to discuss the opportunities inherenet in China-UK trade and collaborations. John Zai provided particular insight on the UK tech scene and its epicentre London from a foreign investor's perspective.
According to John,
"Science and technology continue to evolve and recent innovations in all fields spanning from MedTech to AI are changing how people live. Tech developments and the entrepreneurial mindset have become important aspects of the UK’s economic growth"
In 2017, the UK had the highest Foreign Direct Investment in the world, proving its continued attraction to foreign investors. The pace with which new ideas and businesses are launched in London is incessant. Historically, London has seen long periods of steady economic development and has always placed great emphasis on science and tech which in turn has attracted continuous investment to its tech industry in particular. The proportion of UK commercial R&D investment in overseas financing surpasses all other European countries for instance.
John Zai further emphasised his excitement for the upcoming London Tech Week. In 2017, Cocoon Networks was London Tech Week’s leading partner and we hosted our anticipated China-UK Hi! Technology Festival in our premises here at 4 Christopher Street.
John Zai himself is delighted that Cocoon Networks will once again support the event week as a stream sponsor and also host the biggest Sino-British event during London Tech Week: the 3rd China-UK Hi! Technology Festival from June 12-15.
John Zai stated:
"As an innovative platform focused on equity investment and technology transfer between Europe and China, Cocoon Networks offers a great variety of services ranging from cross-border incubators and accelerators to venture capital investment and co-working spaces. Our aim is to connect European companies and their innovative ideas with China’s capital and market. Sino-British collaboration in the technology sector spans over 40 years now. We believe Chinese audiences would take great delight in participating in London Tech Week. We want to encourage Chinese visitors and believe there is much potential for cross-cultural collaborations"
Britain is a country known for its strong education and growing emphasis on innovation. The British government has always greatly supported science and technology and thus created a very favourable market environment for entrepreneurs. 2016 for instance saw 80 new companies being born every hour. According to the US VC database CB Insights, the UK is home to the third highest amount of tech unicorns in the world together with India.
“With an increased focus on fostering the exchange of ideas and capital between China and the UK, 2018 could become an even more remarkable year for tech advancement than expected”,
concluded John Zai.
In regards to London Tech Week, John Zai and Cocoon Networks have an exciting announcement to make very soon, so stay tuned!